The Managing Director of SME Development Finance Corporation (SDFC), Aishath Fifsheen Ali has been dismissed from her post, Privatisation and Corporatisation Board (PCB) has announced.
PCB in an announcement on Saturday said Fifsheen has been dismissed from her post as the Managing Director of SDFC, without specifying a reason behind the decision.
Fifsheen was appointed as SDFC’s Managing Director in January of 2024.
Established in 2019, SDFC is a specialised financing institution focused on providing financial support to Micro, Small, and Medium Enterprises (MSMEs) in the Maldives.
Owned by the government along with the Male’ City Council, Fuvahmulah City Council and Addu City Council, SDFC enables MSMEs to obtain financing to support their businesses while leading to healthy competition between financial institutions.